Angola | 2018.02.21
ANGOLAN CENTRAL BANK DIRECTS COMPANIES TO PURCHASE FOREIGN CURRENCY EXCLUSIVELY FROM COMMERCIAL BANKS

By means of Central Bank of Angola ("BNA") Directive of 12 February 2018, BNA ordered companies to purchase foreign currency exclusively from commercial banks, except that large importers of medicines and foodstuffs may continue to submit their requestes for purchase of foreign currency to the relevant ministries.

 

BNA also recommended that companies implement certain measures to ensure the efficient use of foreign currency, such as:

 

  • Checking that the goods and services to be imported are unavailable in the national market;
  • Giving priority to the use of letters of credit for the import of goods and services;
  • Contracting goods or services directly from producers or licensed official agents; and
  • Negotiating competitive prices.


In respect of individuals, BNA recommends that they purchase foreign currency from the commercial bank in which their salary or regular income deposit is domiciled.

 

Should you wish to receive additional information, please contact:
mirandaalliance-alert@mirandaalliance.com

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